Sunoco LP receives Canadian approval for Parkland acquisition

Parkland Corporation and Sunoco LP (NYSE: SUN) announced that the Government of Canada has approved Sunoco's proposed acquisition of Parkland under the Investment Canada Act.

The transaction is expected to close in the fourth quarter of 2025, subject to obtaining remaining regulatory approvals and satisfying customary closing conditions, according to a press release statement.

Parkland operates as a fuel distributor, marketer, and convenience retailer with operations in 26 countries across the Americas. The company maintains approximately 4,000 retail and commercial locations across Canada, the United States, and the Caribbean region.

Sunoco LP operates as a master limited partnership with energy infrastructure and fuel distribution operations in over 40 U.S. states, Puerto Rico, Europe, and Mexico. The partnership maintains an extensive network of approximately 14,000 miles of pipeline and over 100 terminals, serving approximately 7,400 Sunoco and partner branded locations.

Energy Transfer LP (NYSE: ET) owns Sunoco's general partner.

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